Russian Financial Surveillance Agency to Monitor BTC-to-Fiat Transactions

[mlawson71]

The Russian financial surveillance agency, Rosfinmonitoring, is planning to start monitoring all Bitcoin to fiat currencies transactions, according to a statement by German Neglyad who is the deputy director of the agency. He issued that statement before the Russian Parliament during a meeting about the financial markets.
Rosfinmonitoring usually busies itself with shutting down money laundering schemes and dealing with illegal financial systems, but it recently shifted its attention to cryptos since terrorist groups favour using them to finance their operations.
Rosfinmonitoring is also planning to cooperate with the country’s financial regulator, the Russian Central Bank.
Source
This will undoubtedly affect all crypto exchanges on Russian territory. And while I have no doubt that terrorism is certainly one of the reasons why they’re doing this, I wonder if it is the only reason.